I'm suspicious of this news. Banks take old currency out of the system, not the Biden Administration. The Fed does this in conjunction with Congress because it is Congress that has the final say on the issuance of money, not the Biden Administration.
I have in my wallet newly printed 100 dollar bills that have "Series 2017" on them. I have one dollar bills having "Series 2008" on them. "Series 2009" 5 dollar bills, "Series 2007" 20 dollar bills.
There isn't enough Series 2021, 2022 paper denominations to cover all the dollars out there. This would cause a huge crisis.
This is either BS information or its another egregious overreach by Biden.
Quite right. IMHO, this would eliminate 90 to 95% of the paper denominations out there. I'm being generous with this estimate too. I have not seen a Series 2021 dollar denomination yet. There are very few if any out there.
The consequence would be to force everyone to take a digital currency. In theory, the Series 2021 denominations may be a digital only version.
This cannot stand because it is a violation of separation of powers. Biden has no authority.
I'm suspicious of this news. Banks take old currency out of the system, not the Biden Administration. The Fed does this in conjunction with Congress because it is Congress that has the final say on the issuance of money, not the Biden Administration.
I have in my wallet newly printed 100 dollar bills that have "Series 2017" on them. I have one dollar bills having "Series 2008" on them. "Series 2009" 5 dollar bills, "Series 2007" 20 dollar bills.
There isn't enough Series 2021, 2022 paper denominations to cover all the dollars out there. This would cause a huge crisis.
This is either BS information or its another egregious overreach by Biden.
I wouldn't put egregious overreach by Biden out of the question...he's done it before...and this could be part of their digital dollar scam.
Quite right. IMHO, this would eliminate 90 to 95% of the paper denominations out there. I'm being generous with this estimate too. I have not seen a Series 2021 dollar denomination yet. There are very few if any out there.
The consequence would be to force everyone to take a digital currency. In theory, the Series 2021 denominations may be a digital only version.
This cannot stand because it is a violation of separation of powers. Biden has no authority.